Crypto Market Sees $80B in 24-Hour Trading Amid $77M Liquidations as Bitcoin Holds $61K
On October 4, 2024, the cryptocurrency market fluctuated across various digital assets. The total market cap is now $2.13 trillion, with a 24-hour trading volume of $80.44 billion. Bitcoin ($BTC) still leads 56.9%, pricing at $61,300. Ethereum ($ETH) follows at the price of $2,380, retaining a market dominance of 13.5%.
Daily Summary on October 4, 2024$STX $TIA $AAVE $AERO $BONK $ETH $BTC $SUI $SOL $PEPE#dailysummary #DeFi #Crypto pic.twitter.com/1Hyq9vkM10
— PHOENIX – Crypto News & Analytics (@pnxgrp) October 4, 2024
Crypto Price Movement and Liquidations
The price action of key cryptocurrencies indicates a mixed performance. $STX leads with a price bounce of 0.45%. However, TIA and AAVE saw dips of 1.29% and 0.07%, respectively. The trend also shows that $BONK experienced a significant downturn of 4.66%.
The market has witnessed notable liquidations in the last 24 hours. Bitcoin leads the list with liquidations totalling $43.99 million, followed by SOL at $9.01 million. Other notable mentions include Ethereum at $8.74 million and $PEPE at $6.41 million. These figures underscore the ongoing volatility and the challenges traders face in the current environment.
Market Sentiment
The current fear and greed index stands at 39, indicating a fear sentiment prevailing among traders. This sentiment likely influences the recent price movements as traders cautiously approach the market. Consequently, the environment remains challenging for both seasoned and novice investors.
As per the data shared by Phoenix, a crypto analytical firm, the trading positions reflect the cautious outlook 44.66% of traders hold long positions and 55.34% hold shorts. This balance creates a divided market sentiment, with some traders predicting a recovery while others preparing for further falls.
The cryptocurrency market is a further tightrope between opportunity and risk. In that respect, traders are vigilant in a volatile setting. As the day progresses, investors will likely monitor price movements closely to make informed decisions.
